Why are CMA's not eligible for tax audit?CMA, known as Cost and Management accountants , are not treated at par with CA, better known as chartered accountants. While there lies a fine line of difference between their syllabuses, yet CA is given more prominence. While the base of CA is taxation and accountancy, and that of CMA being costing, yet the syllabus of taxation and accountancy is almost same in both the professional courses. Despite this, CA's can be appointed as a cost auditor, cost auditor is basically a professional who checks the costing books according to specified norms. Whereas a CMA is still not eligible for being a tax audit. Why CMA's are not given the same importance in working field as a CA gets? When ever a student decides to pursue CMA, the first suggestion received is to try out CA. Most students believe CMA to be the last option, that if they fail CA attempts or they do not know what to do in career , they still are sure they will pass CMA, which in turn is not so true to crack. In the society many people do not know about the CMA course and tend to believe that to be like CA, because of lack of knowledge or lack of importance CMA has received all these years. When a CMA learns the same norms of taxation that a CA learns, why is CMA profession disregarded in so many circumstances?
Who's at fault? Has the students failed to maintain the course's integrity ?
What are your views?